HSA Administration Company, Clarity Benefit Solutions, Lists Three Ways Its Ready For Life HSA Helps Boost HDHP Participation
CLARK, N.J., June 27, 2018 /PRNewswire-iReach/ -- Clarity Benefit Solutions, lists three ways HSA companies help boost HDHP participation with Ready For Life HSA.
The Ready For Life HSA is a unique HSA with a built-in payroll advance to cover employees' unexpected healthcare costs. Just like a regular HSA, employees must be enrolled in a High Deductible Health Plan (HDHP) to participate in an HSA. Here are some ways that Clarity's Ready For Life HSA can be an incentive for employees to enroll in HDHP s.
- It covers medical costs. If an employee has a medical expense, but not enough money in his or her HSA to cover it, the employee uses the Ready for Life HSA (instead of a savings account or credit card). Ready For Life kicks in with an on-demand, interest-free payroll advance funded by the employer. The advance is automatically paid back through small, sustainable deductions from the employee's paycheck—just a few dollars each pay period. Clarity automates the entire payback process by creating an employee paycheck deduction in the payroll system. It's instant and automatic, so the employee can enjoy peace of mind and the confidence that he or she can keep expenses under control.
- It frees up employees' checking accounts and/or credit cards. Since the Ready For Life HSA allows employees to pay for these medical expenses, employees do not have to tap into their checking account or use their credit card—which can result in accruing interest. They will also be better prepared to tackle future medical costs.
- It allows employees to save for the future. Since Ready For Life is an HSA, it is a powerful, portable way to enjoy tax-advantaged savings that roll over from year to year, so employees can prepare for the future.
Fortunately, employers can also realize numerous benefits. Ready For Life not only helps employers make HDHPs more compelling, it shows that employers care about them in a uniquely powerful way. Progressive employers realize that this the future of healthcare.
About Clarity Benefit Solutions : Clarity Benefit Solutions HSA administrators provides technology that makes the health insurance plan selection process fast, easy, and straightforward. For over two decades, we have provided clients with industry-leading technology, compliance, and exceptional customer service. Our offering is designed to save time and lower the costs of managing benefits while also promoting employee self-service and automated ACA compliance.
Media Contact: Calvin Clark, Clarity Benefit Solutions, 7324288282, [email protected]
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SOURCE Clarity Benefit Solutions
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